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However, he said he was bargain-hunting in the worst-affected sectors, such as luxury goods, and predicted broader European stock markets should soon stabilize.

“China does not have the need to start a currency war to gain advantage”, he said.

It is also fanning political tensions with the United States and Europe, whose exports could become comparatively costlier.

The yuan had strengthened along with the dollar, hurting exporters and raising the risk of politically risky job losses in manufacturing industries that employ tens of millions of workers. Holders of yuan can preserve value by purchasing bitcoin and then cashing out to yuan,...

“As things stand in [European public opinion], the answer to any proposal to change the treaties in the near future is likely to be “no” in all countries“, he said.

The automaker recorded its best quarterly profit in automotive in 15 years.

A new video from the United Nations Refugee Agency (UNHCR) aims to clarify the scale of the migrant crisis in Europe, as the numbers of people traveling across the Mediterranean, from countries such as Syria, Afghanistan, Somalia, Eritrea, and Nigeria, continue to climb.